Fed is not private in a meaningful sense.
I keep seeing people talking about it's some huge issue that the Fed is "private." These people making an issue out of this are totally missing the point. The Fed is not private as the term is normally understood. The Fed is private only by legal technicality. In reality it's works hand in hand with government because it turns over 100% of profits to the government after paying employee salaries. Peter Schiff points this out in this in this interview when asked if the Fed is private: http://www.youtube.com/watch?v=58zQw16O1LE (starts at 7:20) Then government spends this money on private contractors, welfare recipients, and other government programs. This is how government grows without bounds. Also, the government can replace a new Chairman at will. That would not be possible with a truly private institution. As Peter Schiff notes, the Fed is LEGALLY or TECHNICALLY private but "it doesn't really operate that way."
So please stop telling people that Fed is "private" as if it has any real importance. You're just distracting people from the real issue, which is that central banking is central economic planning and that's why it doesn't work. Also that it allows government to grow unchecked, and causes economic distortions, because they print money out of thin air to monetize the Treasury's debt for them. You cannot have a truly "private" central bank. It would not exist, because of competition. The Fed exists by force of government.
Do you people complaining that the Fed is private prefer that the Fed be technically part of the government? There would be no practical difference. Listen to Ron Paul if you want to hear real substantial reasons to oppose the Fed. Paul never says he opposes the Fed because it's "private." That's an issue with no practical relevance. The "private" technicality was just a way for central planners to get around the Constitution, to pretend that it's a truly non-governmental institution. A institution that can adjust the nation's money supply by having a government-backed monopoly on money production is not governmental? An government-created institution that exercises such preponderant control of our whole economy is not governmental? To say it's private is to trivialize it. The problem with the Fed is that it is NOT a truly private institution. A truly private institution could not have such power. Dr. Paul himself has said that money would be best created in "the private market." http://www.youtube.com/watch?v=QnsfZwwswZE The Fed is not truly part of the private market, and that's the problem.
Also some of you people act likes it's some big secret that the Fed is "private." I'm guessing you never attended school, because pointed out on all basic government classes from high school on up that the Fed is legally or technically "private" or "hybrid." That aspect is not some coverup or dark secret. For example, here's a widely distributed textbook here that says the Fed is privately "owned": http://books.google.com/books?id=Gz-5QCLlLaEC&pg=PA243dq=%22... The belief by some that there's some kind of conspiracy trying to cover this up is ridiculous.
Pushing the idea that the Fed is "private" on people, as if you're revealing some dark secret, is just taking them out on an irrelevant limb. It actually damages the cause of free-market capitalism, because we should be doing the reverse: praising and promoting private enterprise and condemning government ownership.
Most central banks are
Most central banks are private institution run by people appointed by government that builds a financial oligopoly around. Crony capitalism
It's quasi public but
It's quasi public but effectively private. The bankers make sure their guys get on the Board of Governors by buying politicians.
You have it backwards...
The Fed runs the country and our government is the private enterprise.
You have it backwards...
The Fed runs the country and our government is the private enterprise.
Hey! Economo, read my solution.
.
http://www.dailypaul.com/node/75015
Then look at the evidence in my album.
http://s496.photobucket.com/albums/rr322/jonqpublik/
JonQ.Publik
JonQ.Publik
Resistance is not futile, what's futile is non-resistance.
Live Free or Die! Because if you are not free you’re dead already!
The Head of the Fed isn't
The Head of the Fed isn't the symbolic CHAIR, its the STOCK HOLDERS. Who also can fire the Chair. You're viewing of the word "private" as PROPERTY show you're lack of knowledge in the law, for the word "private" in the terms of corporations refers to being "publicly" traded in the stock market. The Federal Reserve is not "PUBLICLY" traded in the stock market and THUS is a "PRIVATE" Corporation.
JonQ.Publik
JonQ.Publik
Resistance is not futile, what's futile is non-resistance.
Live Free or Die! Because if you are not free you’re dead already!
Wow, thanks "economo", with
Wow, thanks "economo", with your < 2 week membership.... all waxing poetic about the FED and stuff. Man, you government boys are barking up the wrong tree here writing that kind of crap on the Daily Paul! I see that the usual DP crowd have their B.S. detectors operational and have already handed you your ass, so I'm just going to sit back, read, and laugh at the carnage........ROFLMAO!!!!
Doc Holladay
Nashville, TN
http://www.myspace.com/docholladaymusic
www.reverbnation.com/docholladaymusic
Truth is treason in an empire of lies.
If I was from the goverment,
why would I be criticizing central planning of the money supply? The Fed is that central planner. So obviously I'm for the abolition of the Fed. Bozo.
Peter Schiff backed up what I've said, in the interview. He says it is legally private, but doesn't act as a private institution. Listen and learn.
Are you talking about Peter Schiff
the man who never stops barking about the lack of the Americas ability to manufacture goods yet invests all his money overseas?
you Do realize
That Mr. Schiff was Ron Paul's economic adviser and donated the maximum by law to Dr. Paul's campaign?
Peter is not unAmerican simply for speaking the truth, we do not produce anything all we do is consume, investing outside the country right now is the smart thing to do.
As for the article above I disagree with its precepts completely. Private wealth creation as mentioned by Dr. Paul is a reference to "free banking" practices, not a cartel of money interests with a strangle hold over monetary policy.
Alli
http://SmArgus.com
"None are so hopelessly enslaved as those who falsely believe they are free." - Johann Wolfgang von Goethe
Allison Bricker
http://SmArgus.com
"None are so hopelessly enslaved as those who falsely believe they are free." - Johann Wolfgang von Goethe
This thread is an obvious canard and should be deleted...
...especially because its title is demonstrably false.
http://meetthefed.com/
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"An error does not become truth by reason of multiplied propagation, nor does truth become error because nobody sees it. Truth stands, even if there be no public support. It is self sustained." -Mahatma Gandhi
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"...a nation that is afraid to let its people judge the truth and falsehood in an open market is a nation that is afraid of its people." -John F. Kennedy
So There You Have It, the Fed IS private in a MEANINGFUL SENSE.
The subject of your BLOG has been addressed. Many of these replies are to the contrary and show that it is private and that the private is what makes the FED. RES. side step the Constitution/s of these united States of America.
Being private keeps ALL their records private. There is NO accountability and yes, that is the way the FEDERAL RESERVE OWNED bankrupt U.S. CORPORATE GOVERNMENT LIKES IT!!!
There is almost no way the people can do anything about it, because it is PRIVATE. You as a CORPORATION under the Social Security System are control by CORPORATE LAW, NOT CONSTITUTIONAL LAW. If the FED. RES. was a PUBLIC CORPORATION it would make thing a little better, but any corporate law, PUBLIC or PRIVATE is not CONSTITUTIONAL LAW and in corporate law there are no RIGHTS just privileges!!!!
Read the following BLOG for more info and comment on ALL that is revealed there.
http://www.dailypaul.com/node/74537
Your name on your birth certificate, drivers license, marriage license, bank account, Social Security Card NAME and many more are ALL in CAPITALIZED LETTERS, because they are CORPORATIONS not your Private Christan Name. If it was your Private Christan Name they would have to deal with you under Constitutional Law. BUT the 13th Amendment STATES"... NOR INVOLUNTARY SERVITUDE....." You volunteered when you and your parents signed those documents creating those CORPORATIONS!!!
____________________________________________________
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Those who Presume or Assume the truth about something with out checking it out are bound to relive the historical chains of slavery.
You're all bankrupt corporations (SLAVES) under the Social Security System and because the bankrupt government created corporations they, the banksters (the receivers) have the RIGHT to control you through corporate law not Constitutional law. Go back to your private Christian names or natural names, if you will, and live in the REPUBLIC.
JonQ.Publik
JonQ.Publik
Resistance is not futile, what's futile is non-resistance.
Live Free or Die! Because if you are not free you’re dead already!
By "private"
what is usually meant is "private property." A private business does not have its head hired and fired by the government and the government does not take 100% of its profits.
Sure they have some privaCY, because they're LEGALLY private. But in practice they're not a private entity, but closer to a state-operated enterprise or at best a hybrid.
Because something has privacy, that doesn't mean it's a private enterprise. The CIA keeps thing secret from the rest of government, but we don't say it's "private" institution because of that.
The Head of the Fed isn't
The Head of the Fed isn't the symbolic CHAIR, its the STOCK HOLDERS. Who also can fire the Chair. You're viewing of the word "private" as PROPERTY show you're lack of knowledge in the law, for the word "private" in the terms of corporations refers to being "publicly" traded in the stock market. The Federal Reserve is not "PUBLICLY" traded in the stock market and THUS is a "PRIVATE" Corporation.
JonQ.Publik
JonQ.Publik
Resistance is not futile, what's futile is non-resistance.
Live Free or Die! Because if you are not free you’re dead already!
THE FEDERAL RESERVE BANK IS
THE FEDERAL RESERVE BANK IS A PRIVATE COMPANY.
Article 1, Section 8 of the Constitution states that Congress shall have the power to coin (create) money and regulate the value thereof. Today however, the FED, which is a privately owned company, controls and profits by printing money through the Treasury, and regulating its value.
The FED began with approximately 300 people or banks that became owners (stockholders purchasing stock at $100 per share - the stock is not publicly traded) in the Federal Reserve Banking System. They make up an international banking cartel of wealth beyond comparison (Reference 1, 14). The FED banking system collects billions of dollars (Reference 8, 17) in interest annually and distributes the profits to its shareholders. The Congress illegally gave the FED the right to print money (through the Treasury) at no interest to the FED. The FED creates money from nothing, and loans it back to us through banks, and charges interest on our currency. The FED also buys Government debt with money printed on a printing press and charges U.S. taxpayers interest. Many Congressmen and Presidents say this is fraud (Reference 1,2,3,5,17).
Who actually owns the Federal Reserve Central Banks? The ownership of the 12 Central banks, a very well kept secret, has been revealed:
Rothschild Bank of London Warburg Bank of Hamburg Rothschild Bank of Berlin Lehman Brothers of New York Lazard Brothers of Paris Kuhn Loeb Bank of New York Israel Moses Seif Banks of Italy Goldman, Sachs of New York Warburg Bank of Amsterdam Chase Manhattan Bank of New York (Reference 14, P. 13, Reference 12, P. 152)
These bankers are connected to London Banking Houses which ultimately control the FED. When England lost the Revolutionary War with America (our forefathers were fighting their own government), they planned to control us by controlling our banking system, the printing of our money, and our debt (Reference 4, 22).
The individuals listed below owned banks which in turn owned shares in the FED. The banks listed below have significant control over the New York FED District, which controls the other 11 FED Districts. These banks also are partly foreign owned and control the New York FED District Bank. (Reference 22)
First National Bank of New York James Stillman National City Bank, New York Mary W. Harnman
National Bank of Commerce, New York A.D. Jiullard
Hanover National Bank, New York Jacob Schiff
Chase National Bank, New York Thomas F. Ryan Paul Warburg William Rockefeller Levi P. Morton M.T. Pyne George F. Baker Percy Pyne Mrs. G.F. St. George J.W. Sterling Katherine St. George H.P. Davidson J.P. Morgan (Equitable Life/Mutual Life) Edith Brevour T. Baker (Reference 4 for above, Reference 22 has details, P. 92, 93, 96, 179)
How did it happen? After previous attempts to push the Federal Reserve Act through Congress, a group of bankers funded and staffed Woodrow Wilson's campaign for President. He had committed to sign this act. In 1913, a Senator, Nelson Aldrich, maternal grandfather to the Rockefellers, pushed the Federal Reserve Act through Congress just before Christmas when much of Congress was on vacation (Reference 3, 4, 5). When elected, Wilson passed the FED. Later, Wilson remorsefully replied (referring to the FED), "I have unwittingly ruined my country" (Reference 17, P. 31).
Now the banks financially back sympathetic candidates. Not surprisingly, most of these candidates are elected (Reference 1, P. 208-210, Reference 12, P. 235, Reference 14, P. 36). The bankers employ members of the Congress on weekends (nickname T club -out Thursday...-in Tuesday) with lucrative salaries (Reference 1, P. 209). Additionally, the FED started buying up the media in the 1930's and now owns or significantly influences most of it Reference 3, 10, 11, P. 145).
Presidents Lincoln, Jackson, and Kennedy tried to stop this family of bankers by printing U.S. dollars without charging the taxpayers interest (Reference 4). Today, if the government runs a deficit, the FED prints dollars through the U.S. Treasury, buys the debt, and the dollars are circulated into the economy. In 1992, taxpayers paid the FED banking system $286 billion in interest on debt the FED purchased by printing money virtually cost free (Reference 12, P. 265). Forty percent of our personal federal income taxes goes to pay this interest. The FED's books are not open to the public. Congress has yet to audit it.
Congressman Wright Patman was Chairman of the House of Representatives Committee on Banking and Currency for 40 years. For 20 of those years, he introduced legislation to repeal the Federal Reserve Banking Act of 1913.
Congressman Henry Gonzales, Chairman of a banking committee, introduces legislation to repeal the Federal Reserve Banking Act of 1913 nearly every year. It's always defeated, the media remains silent, and the public never learns the truth. The same bankers who own the FED control the media and give huge political contributions to sympathetic members of Congress (Reference 12, P. 155-163, Reference 22, P. 158, 159, 166).
THE FED FEARS THE POPULATION WILL BECOME AWARE OF THIS FRAUD AND DEMAND CHANGE
We, the People, are at fault for being passive and allowing this to continue.
Rep. Louis T. McFadden (R. Pa.) rose from office boy to become cashier and then President of the First National Bank in Canton Ohio. For 12 years he served as Chairman of the Committee on Banking and Currency, making him one of the foremost financial authorities in America. He fought continuously for fiscal integrity and a return to constitutional government (Reference 1). The following are portions of Rep. McFadden's speech, quoted from the Congressional Record, pages 12595-12603:
"THE FEDERAL RESERVE BOARD, A GOVERNMENT BOARD, HAS CHEATED THE GOVERNMENTOF THE UNITED STATES AND THE PEOPLE OF THE UNITED STATES OUT OF ENOUGH MONEY TO PAY THE NATIONAL DEBT.
The depredations and the iniquities of the Federal Reserve Board and the Federal Reserve banks acting together have cost this country ENOUGH MONEY TO PAY THE NATIONAL DEBT SEVERAL TIMES OVER."
About the Federal Reserve banks, Rep. McFadden said, "They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; the rich and predatory money lenders. This is an era of economic misery and for the reasons that caused that misery, the Federal Reserve Board and the Federal Reserve banks are fully liable."
On the subject of media control he state, "Half a million dollars was spent on one part of the propaganda organized by those same European bankers for the purpose of misleading public opinion in regard to it."
Rep. McFadden continued, "Every effort has been made by the Federal Reserve Board to conceal its power but the truth is the Federal Reserve Board has USURPED THE GOVERNMENT OF THE UNITED STATES. IT CONTROLS EVERYTHING HERE AND IT CONTROLS ALL OUR FOREIGN RELATIONS. IT MAKES AND BREAKS GOVERNMENTS AT WILL.
No man and no body of men is more entrenched in power than the arrogant credit monopoly which operates the Federal Reserve Board and the Federal Reserve banks. These evil-doers have robbed this country of more than enough money to pay the national debt. What the Government has permitted the Federal Reserve Board to steal from the people should now be restored to the people."
"Our people's money to the extent of $1,200,000,000 has within the last few months been shipped abroad to redeem Federal Reserve Notes and to pay other gambling debts of the traitorous Federal Reserve Board and the Federal Reserve banks. The greater part of our monetary stock has been shipped to foreigners. Why should we promise to pay the debts of foreigners to foreigners? Why should American Farmers and wage earners add millions of foreigners to the number of their dependents? Why should the Federal Reserve Board and the Federal Reserve banks be permitted to finance our competitors in all parts of the world?" Rep. McFadden asked.
"The Federal Reserve Act should be repealed and the Federal Reserve banks, having violated their charters, should be liquidated immediately.
FAITHLESS GOVERNMENT OFFICERS WHO HAVE VIOLATED THEIR OATHS SHOULD BE IMPEACHED AND BROUGHT TO TRIAL", Rep. McFadden concluded (Reference 1, contains an entire chapter on http://www.myfreeoffice.com/dwi/McFadden.htmlRep. McFadden's speech).
If the media is unbiased, independent and completely thorough, why haven't they discussed the FED? Currently, half the states have at least a grass roots movement in action to abolish the FED, but there's no press coverage. In July, 1968, the House Banking Subcommittee reported that Rockefeller, through Chase Manhattan Bank, controlled 5.9% of the stock in CBS. Furthermore, the bank had gained interlocking directorates with ABC.
In 1974, Congress issued a report stating that the Chase Manhattan Bank's stake in CBS rose to 14.1% and NBC to 4.5% (through RCA, the parent company of NBC). The same report said that the Chase Manhattan Bank held stock in 28 broadcasting firms. After this report, the Chase Manhattan Bank obtained 6.7% of ABC, and today the percentage could be much greater. It only requires 5% ownership to significantly influence the media (Reference 14, P. 56-57). This is only one of 300 wealthy shareholders of the FED. It is believed other FED owners have similar holdings in the media. To control the media, FED bankers call in their loans if the media disagrees with them (Reference 25, P. 134-137).
http://www.apfn.org/APFN/fed_reserve.htm
"Americans need to take a Democrap and wipe it's Republican from the history books of this once great Nation"
-Concerned Citizen
"The use of 'Conspiracy Theorist' or 'Truther' as a derogatory -- as an epithet almost -- is something the propagandists have perfected over the decades, and it's a useful tool for eliminating articulate dissent."
Sorry to tell you...
but I have opened many eyes and conversations by referring to the Fed as a private organization. People assume that the Federal Reserve System is a part of the Treasury Dept. Some feel betrayed when they find out that it is not.
How can anyone miss this if they attend school?
I remember learning this in high school. It's taught in all classes that discuss American government that the Fed is quasi public/private. Look at any school textbook, and it's right there. For example, here's a widely distributed textbook here that says the Fed is privately owned: http://books.google.com/books?id=Gz-5QCLlLaEC&pg=PA243&dq=%2...
If anyone feels betrayed when they find this out, who's betraying them? No one has claimed that the Fed is legally part of the government. People act like they're discovered some dark secret, which is crazy.
The government WANTS you to regard the Fed as a separate private institution, because that's how the government can get around the Constitution to practice central monetary planning and have access to unlimited fiat money.
competing currencies
"The government WANTS you to regard the Fed as a separate private institution, because that's how the government can get around the Constitution to practice central monetary planning and have access to unlimited fiat money."
To keep control they also need to prohibit competing currencies. They do this by using the coercive power of gov't to seize assets of competitors. The gov't, after having seized everything, engages in the legal strategy of "we can last longer than you". Please reference Liberty Dollar that was seized last year without charges.
If there were competing currencies, we could more easily move away from Federal Reserve Notes. The Fed Notes would only be needed briefly to pay taxes.
http://FlipFlopRomney.blogspot.com
Thank You
Thanks for being a voice of reason about this.
Facts are stubborn things.
Yes they are to bad he is
Yes they are to bad he is quite light on facts!
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Every normal man must be tempted at times to spit on his hands, hoist the black flag, and begin to slit throats. H. L. Mencken
Get Prepared!
-----
End The Fat
70 pounds lost and counting! Get in shape for the revolution!
Get Prepared!
How the Federal Reserve Banking Cartel steals from US!
One of many ways the Federal Reserve Banking Cartel steals from US!
For every dollar the Bureau of Engraving (B.O.E.) prints the Federal Reserve pays the B.O.E. something around 5 cents for every bill, weather its a 1, 5, 10, 20, 50, or 100. The US Corporate Government (also private) buys them at face value with US Corporate Treasury Bonds that pays interest to the private Federal Reserve Banking Cartel. So the FED. RES. just made 95 cents for every $1 bill and $4.95 for every $5 bill and so on, plus interest. This debit is created out of thin air and secured by T-bonds. The T-bonds are secured by the future earnings of ALL US corporate indentured servants (also private) of the Social Security System (S.S.S. or S.S.N.). These private systems had to be put in place before the UCC was signed into law by JFK in 1962 in order for the international Banksters to have a mechanism to use when they would take control of all Federal Agencies of our Country. The UCC states that when a federal government uses COMMERCIAL PAPER for a medium of exchange then it is subject to bankruptcy laws the same as a common corporation. That law gave the Banksters the right to place the US into receivership for the 1933 bankruptcy of the US Corporate Government and all S.S.N. US Corporations and non-S.S.N. US Corporations. So there you have it, yes it is all a private corporation in order to side step the Constitution/s of the united States of America and that is exactly why the Private part of ALL these things is so important!
____________________________________________________
.
Those who Presume or Assume the truth about something with out checking it out are bound to relive the historical chains of slavery.
You're all bankrupt corporate trusts (SLAVES) under the S.S.N. and because the bankrupt government created corporations they, the banksters(receivers) have the RIGHT to control you. Go back to your private Christian names or natural names, if you will, and live in the REPUBLIC.
JonQ.Publik
JonQ.Publik
Resistance is not futile, what's futile is non-resistance.
Live Free or Die! Because if you are not free you’re dead already!
Where do you think the Treasury gets the money
to pay the interest to the Fed? They just get the Fed to print money to lend them and pay with the borrowed money. It's just an accounting technicality. It would be no different than if the Treasury itself were printing the money for itself. It's free money for politicians courtesy of the Fed (it's we who pay for it through inflation). As I said, the Fed isn't who profits in this. The Fed just provides free money to politicians. Who profits is those who the politicians dole that money out to.
I don't have to think where
the treasury gets the money I already know. Have you heard about the Grace Commission?
http://www.uhuh.com/taxstuff/gracecom.htm
Resistance to additional income taxes would be even more widespread if people were aware that:
* One-third of all their taxes is consumed by waste and inefficiency in the Federal Government as we identified in our survey.
* Another one-third of all their taxes escapes collection from others as the underground economy blossoms in direct proportion to tax increases and places even more pressure on law abiding taxpayers, promoting still more underground economy-a vicious cycle that must be broken.
* With two-thirds of everyone's personal income taxes wasted or not collected, 100 percent of what is collected is absorbed solely by interest on the Federal debt and by Federal Government contributions to transfer payments. In other words, all individual income tax revenues are gone before one nickel is spent on the services which taxpayers expect from their Government.
While I do agree that I would not feel any better about a government central bank or what system is used dishonestly or as I have said in the passed
Would you rather have Ron Paul as your dictator or George Bush as your president?
It's Not Free Money!
Once again you show your ignorance. It is different then if the treasury printed the money because of the Fed attaches interest to every dollar they print and the treasury is BORROWING that money. So not only do we pay inflation tax they have foisted income tax on us to pay the interest on that debt WHICH IS THE NATIONAL DEBT. And of course income tax doesn't even cover the interest so they print and borrow more. It is financial insanity, it can never be paid off.
Do yourself a favor and get educated before you embarrass yourself further. G Edward Griffins 'The Creature from Jekyll Island' would be a good place to start. Well done and very well documented. Any of the Mises stuff on the Fed is good too.
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Every normal man must be tempted at times to spit on his hands, hoist the black flag, and begin to slit throats. H. L. Mencken
Get Prepared!
-----
End The Fat
70 pounds lost and counting! Get in shape for the revolution!
Get Prepared!
AGAIN,
Where do you think the Treasury gets the money to pay the interest to the Fed? They get it FROM THE FED. They just get the Fed to print money money, so they can pay back the money they borrowed and interest WITH MORE BORROWED MONEY. This goes on ad infinitum. It is money FREE to the Treasury from the Fed, because the Fed lends them the money to pay themselves back. And whenver it's time to pay back they just print more. It goes on and on, and it truly free to the Treasury. It's a scam, to make it look like the Treasury is dealing with an independent private institution. But in fact, there's not real borrowing and paying interest taking place. Money is just bring printed and spent with the illusion that the Fed is distinct from the Treasury. The reason this illusion is perpetrated is because the government is not authorized to operate a central bank and print unbacked money. So the government can say "Look, it's not us doing it but another institution." This how they get around the Constitution.
Idiot you just repeated what
Idiot you just repeated what I said. But it's not free. The interest is real they borrow money and use that as an excuse to tax us on top of the the inflation.
It's not free we pay for it the treasury is supposed to be our treasury. They steal our wealth by mortgaging our labor and inflating how is that free? The
Fed stock holders profit from this like all PRIVATE businesses. Except it is theft. The treasury and congress our bribed by the credit card but it's not free.
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Every normal man must be tempted at times to spit on his hands, hoist the black flag, and begin to slit throats. H. L. Mencken
Get Prepared!
-----
End The Fat
70 pounds lost and counting! Get in shape for the revolution!
Get Prepared!
I didn't say it was free for US, the people.
I said it was free for the Treasury.
The Fed doesn't enrich itself by activities. It enriches government, or more precisely those who to whom the politicians dole out money.
The fact that Fed member banks earns interest on lending money is not relevant, as without the Fed banking and interest still exist. There is also competition with Fed member banks. Membership in the Federal Reserve system is optional.
It acts in it's on interest
It acts in it's on interest not in the interest of the public as a government agency should ( but don't). The fact the congress and the treasury are in collusion with it to create money from nothing and tax the American people for the interest on the fake money created and are in it for their own interest is treason and doesn't make the Fed any less private.
All banks are agent banks for the Federal reserve there is no opting out of the federal reserve system it sets their rates and creates their money regardless of any facade to the contrary.
-----
Every normal man must be tempted at times to spit on his hands, hoist the black flag, and begin to slit throats. H. L. Mencken
Get Prepared!
-----
End The Fat
70 pounds lost and counting! Get in shape for the revolution!
Get Prepared!
So if you lend some money to a friend
and charge him interest, you're an agent of the Federal Reserve? Lots of banks and other types of lenders are not members of the Federal Reserve system. For example state-chartered banks are not members.
The Fed doesn't act in its own interest. It can't. It's income is taken by the government. It's taxed at 100% after paying modest salaries to its employees.
.
.
JonQ.Publik
Resistance is not futile, what's futile is non-resistance.
Live Free or Die! Because if you are not free you’re dead already!